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What is happening in this world right now? What caused all this?

If the Federal Reserve had started raising interest rates sooner, would inflation have gotten as high as it got and is now?

Looking in the rear view mirror is an easy call. Probably, but it's a very difficult decision to make at the time.

The pandamic created both a public health crisis and economic crisis in the U.S. Causing supply chain issues with China and a domino effect on many other issues.

How do you handle business leaders lying to the public about why layoffs are occurring?

For more AMAs on this topic, subscribe to r/IAmA_Business, and check out our other topic-specific AMA subreddits here.

What’s the best way, in your opinion, to make passive income in this economy?

I don't condone any lying. Leaders must be truthful to gain the respect and future credibility of their teams, staff, and community they serve.

There are countless ways to make passive income. Many have done it by creating online courses, writing an e-book, flipping retail products, creating an app, rental income, renting out a room in your home,

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What is the best way to make sure my child is set for college?

From your perspective are CEOs lying about the reasons for the mass layoffs?

Having to work endlessly without having anytime for family, your mental, spiritual and physical health is a terrible thing. We weren't meant to do that. The goal is work on creating more value to be able to earn more to be able to support your lifestyle. The show I am currently - Opportunity Knocks on PBS with Jean Chatzky an Pratrice Washington is a great way to see how certain families were able to do that. You can go to www.opportunityknocks.net to stream the show.

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I would assume that the goal if for your son or daughter to graduate from college. While most financial planners love to do a "tuition gap analysis" (how much will the university of your choice cost in the future vs. how are you saving now), you should consider other things to give your child a higher probability of graduating. Things like paying attention to their current curriculum, their grades, their level of self-esteem, your engagement with their teachers and school make a big impact in your child's future. As for savings, look into your states 529 College Savings Plans. Look online for a free College Calculator to also prepare to save for their future tuition costs.

do you think the CPI is a reliable indicator of inflation?

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Age old question, do I pay low interest and zero interest debt off whilst I have the money in savings? I have zero interest card debt and 1 loan at 1.7%. Savings are at 4.5%.

Absolutely. I worked in the Barrio of East Los Angeles helping my community after having spent time working with super wealthy individuals. Many years later I have seen how hard work, self-improvement, resiliency and mentors have helped many of my clients (including my parents) achieve financial dignity.

Hey louis,im an artist, i studied animation and i specialize in character designs and story boards art.

Unfortunately, im reaching my 30s and i aint doing much with it. Im always anxious and fearing that i aint good enough, so im paralyzed, i don't have much experience but i want to start doing something. I wanna sell my stuff but i dont know how to start and what tools to use...(and i hate social media, but that's something i will have to overcome). I love tabletop rolplaying games, and i dream of becoming an artist specifically for people who want their characters drawn and the like.

What would you suggest to someone like me with drawing "talent", academic training, but no contacts or experience? Where should i start?

I would appreciate your answer and i love this AMA!

From a governmental standpoint, yes. For a you and I standpoint no. When I do a retirement plan I always forecast a more real inflation percentage to determine long term income needs. For example, I have now many clients who work from home and rarely drive. Prior to covid they drove a lot just to get to work. The rising gas prices hasn't affected them at all. Parents with big families can attest that their grocery bills are much higher than the stated CPI. When it comes to your personal finances, gauge to see how much you see how your monthly finances have increased - the true indicator!

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This is an age old question. IT DEPENDS. I have clients that detest debt and can't sleep if they owe a couple of thousand on credit card debts. No amount of interest being earned in the bank will give them peace of mind. Also, it depends on how much debt you are carrying. I always try do do both, pay off debt and save. Glad to know that you are earning 4.5% on your savings though.

For others reading this, check out www.opportunityknocks.net to find a CDFI (Community Development Financial Institution) to help you save more.

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Thank you for your help.

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Wow, what a great question and I feel your frustration. Someone so talented (right brain) that needs to figure out how to make money out of their unique ability! You need to look for ways to market yourself. Here is an idea - do you use linkedin? I know of many "left brain" business people on linkedin who are great at math and finances but need someone like you to help storyboard or create visuals of their ideas and concepts. LinkedIn is a great way to market your services to the "left brain" people!

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LOL. Nope, one more boomer who believes in "I have never seen a u-haul behind a hearse". I believe in financial significance. Money is a tool to be used to help you live your best life - whatever definition of your best life is. For many of the people I serve, all they want is financial dignity.

I dont really. I will start from there. My ADHD-ridden brain is heavily right-sided. I hope i can make something off it!

I Personally feel afraid to fail(irrationally, since if i don't try, i certainly do), im always hyper-aware of being just not that hood, or not as good as others, and i don't have the guts to ask money for what i do.

One of the bigger insecurities that me and many people trying to pierce into the industry is jow to properly value our work, what methods of payment, what times are usually standard, ect. Can you shed any insight on this issues?

Given the ties to China, do you think a war with China - either financially or physically - would create the same type of rapid inflation?

I'm not an expert in foreign policy or international finance. My guess here would be as good as yours.

It's a great article you linked to. From my perspective, If you can you can and if you can't you can't. I am the son of Mexican Immigrant parents who came here with nothing and gave their children values of hard work, honesty and resiliency. But I also know that the world is changing rapidly and economically it's a lot harder for people. I have children in their 30's and many successful clients in their 20's and am in tune to what they are going through

Even if folks learn nothing else from this AMA, what is one thing you really want to impart to them today?

Thank you for this question. I'd like them to know that there is a lot of help out there for people who are hurting financially. There is a tool available for them to get help through Community Development Financial Institutions (CDFI's). You can find this help. It's called the Opportunity Finder. You can go to www.opportunityknocks.net

Holy shit, this must single-handedly the worst AMA I've witnessed. Shallow answers and self promotion. "Create an app" as an answer for passive income? For real? Is this guy stuck in 2010?

Nobody condones lying, but nobody holds them accountable for lying.

I have a question, and please correct me on any wrong assumptions / errors in understanding.

In the news i read, it is said that the FED is judging how bad inflation is, by checking CPI and Unemployment rate. And they want the unemployment rate to get higher.

How is a higher unemployment rate good?

The argument i heard was - lower unemployment rate means less workforce available and this gives the working people more room to negotiate higher pays. (again, how is that bad?). And also, in bad times, where everything is more expensive, people will take any job. Even if the pay is super shitty. And that would mean that unemployment is lowering.

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> "Create an app" as an answer for passive income? For real? Is this guy stuck in 2010?

well he's technically not wrong, just not easy and it does take on a gamble. You need to have a lot of skills to be able to create a successful app afterall, like how it takes a lot of skills to be successful in a MLM company. No idea wtf "flipping retail products" is supposed to mean though